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eBay says 'best served' by keeping eBay, PayPal together

eBay announced that it has issued the following letter to its shareholders. The company also said it has filed a definitive proxy statement with the Securities and Exchange Commission with respect to eBay’s 2014 Annual Meeting of Stockholders, to be held on May 13. “Our shareholders and our customers are best served by keeping PayPal and eBay together,” eBay’s Board of Directors said. “No other payments competitor has achieved PayPal’s success—because no other competitor has had a commerce platform like eBay.” The company reiterated five key reasons why PayPal and eBay are better together: PayPal Grows Faster Because of eBay; eBay Accelerates the Success of PayPal; Data Sharing Leads to More Profitable Growth; eBay Inc. Provides Efficient Capital for PayPal; Commerce and Payments are Converging